Is Filing Bankruptcy in Louisville KY REALLY a Last Resort?

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Is Filing Bankruptcy in Louisville KY REALLY a Last Resort?

We’ve all heard that filing bankruptcy in Louisville KY should be considered a last resort. The media, credit counselors, collectors, and debt relief programs claim that bankruptcy will destroy your credit and label you as a ‘failure’ from which there is little to no chance of return. This simply isn’t true. These are opinions and not based on facts.

In order to avoid filing bankruptcy, people will sell assets, use up retirement accounts, and empty their savings, which puts them in a worse position. Comparatively, filing bankruptcy in Louisville KY can be the least expensive way to deal with deb,t and can give you the quickest route to getting your life back on track. Here is a list of some of the benefits of bankruptcy.

The filing of a Chapter 7 or Chapter 13 bankruptcy immediately invokes a protection called the “Automatic Stay”. This is a rule in the Federal Bankruptcy Code that immediately protects you from actions for collection from your creditors. Upon the filing of a bankruptcy, creditors cannot call you, sue you, garnish your wages, initiate foreclosure proceedings, or repossess your vehicle. These protections remain intact throughout the duration of your bankruptcy unless either the creditor files a motion to be excused from this rule, or you choose, by agreement, to allow them to be excused. If your home is about to be sold, your car is in danger of repossession, or you have garnishment papers from your employer, then time is of the essence. You need to get protection TODAY!

2. Eliminate debt.

Filing bankruptcy in Louisville KY can help to eliminate (discharge) or greatly reduce debt with credit cards companies, medical bills, and other unsecured debt. It can even help you with owed IRS taxes.

3. No more annoying phone calls.

Phone calls from creditors are not only stressful, but borderline harassment. Once you file for bankruptcy, creditors cannot contact you by phone or mail according to the law. We will contact all of your creditors to ensure that they are aware of your filling. There are serious repercussions for creditors that do not abide by these laws after you have been discharged from bankruptcy.

4. Getting peace of mind with professional legal counsel.

Once we file your bankruptcy case, we immediately work to ensure that your creditors are aware of your filing. We call them, we fax them the paperwork, and we go above and beyond for our clients to make sure that their assets are protected and their wages will not be garnished. If you are already being garnished, we work quickly to restore your “take home” pay to the amount you deserve. In some cases, we are able to get a repossessed vehicle returned as well. Everyone’s case is different, so the first step is meeting with an experienced Louisville bankruptcy attorney to get reliable advice.

5. Get a fresh start!

There are many reason why people file bankruptcy in Louisville KY, and we know the road to financial recovery seems like a daunting one. That’s where we come in and eliminate the roadblocks that keep you from moving forward. We are here reassure you that making the decision to file bankruptcy is the first step in making a full financial recovery.